Italy’s Fiat lifted its stake in Chrysler to 25 percent Monday as Chief Executive Sergio Marchionne prepares for an upcoming round of meetings with bankers to refinance Chrysler’s debt and to ready an initial public offering of shares. Get the full story »
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Vatican creates financial watchdog
The Vatican on Thursday created a financial watchdog agency and issued new laws to try to comply with international rules to fight money laundering and terrorist financing.
The decrees, which go into effect April 1, were passed as Vatican’s own bank remains implicated in a money-laundering investigation that resulted in $31 million being seized and its top two officials placed under investigation.
